The seasonally adjusted estimate for company gross operating profits fell 2.8% in the December quarter 2010.

The seasonally adjusted estimate for wages and salaries rose 1.5% in the December quarter 2010.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)

Release Date

March 2011

30 May 2011

June 2011

29 August 2011

September 2011

28 November 2011

December 2011

27 February 2012

IMPACT OF THE FLOODS

Heavy rain and flooding occurred in Queensland in December 2010. This publication presents the first significant economic impact of this and floods in other states on the Quarterly Business Indicators Survey.

Data collection activities for December quarter 2010, particularly in Queensland, were affected by the floods, however, this has not affected the data quality or reliability of the Australian series. The estimates for Queensland, particularly in the mining industry, have been impacted by lower than usual response rates to the survey and therefore should be used with caution.

COMPARISON BETWEEN COMPANY GROSS OPERATING PROFITS AND GROSS OPERATING SURPLUS

Valuation changes have had an impact on the value of inventories held by Australian businesses this quarter. An inventories valuation adjustment (IVA) is applied in the calculation of the gross operating surplus of private non-financial corporations (GOS) estimate in the Australian National Accounts. The IVA for the December quarter 2010 is (-$972m) which is $2,409m lower than the September quarter 2010 IVA of $1,437m.

No adjustment is made to the company gross operating profits (CGOP) estimate in this publication and, as a result, users should exercise caution when comparing CGOP and GOS. It should be noted that there are other differences between the two series. In particular, changes are made to GOS when annual benchmarks are applied and slightly different seasonal factors apply to the two series. Given this, while CGOP movements are an appropriate indicator for GOS, the two series will not have equivalent seasonally adjusted movements from quarter to quarter.

INQUIRIES

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